Being self employed creates some special tax challenges. And, often business owners wonder how to reduce my taxes being self employed. They may not be obvious, but there are some ways to reduce your taxes. But, when you’re self employed, it will take some diligence to keep track of the deductions you can take.
If [...]

We’re all looking for ways to reduce taxes. And, while we often feel discouraged and believe that we’re destined to pay loads of money in taxes forever, there really are some ways to reduce taxes this year and every year.
The first step to reducing taxes is to reduce your adjusted gross income. Your adjusted [...]

People who run there own businesses often wonder what are some ways a business owner can reduce taxes? It may seem that the taxes we must pay are set, but in reality there are ways that both business owners and others can reduce taxes. Here are some things to think about when you’re wondering what [...]

We’re all looking for ways to reduce taxes. And, while we often feel discouraged and believe that we’re destined to pay loads of money in taxes forever, there really are some ways to reduce taxes this year and every year.
The first step to reducing taxes is to reduce your adjusted gross income. Your adjusted [...]

Whether you’re five years away from retirement or twenty five years away, you should have some sort of retirement account set up for tax free savings. Tax free savings accounts, like 401k and IRA accounts are typically the backbone of any person’s retirement plan. They work like this:
Each year, you can set aside a certain [...]

If you’re in business for yourself, it may be wise for you to form a limited liability company, or an LLC. LLC tax savings come in several forms, and may be a wise way to save your business money.
LLC companies are subject to “pass through taxation”. This means that the owners report their share [...]

If you have children, they need college funds. Each year the cost of college tuition and other college expenses increases, making it more and more difficult for you to fund your children’s education. The key to being able to put your children through college is starting a college fund early in your child’s life, so [...]

If you have children, they need college funds. Each year the cost of college tuition and other college expenses increases, making it more and more difficult for you to fund your children’s education. The key to being able to put your children through college is starting a college fund early in your child’s life, so [...]

The Social Security Act of 1935 was one of the most important pieces of legislation ever enacted by the US government. It came in the midst of the Depression and provided lifetime payments to retired workers beginning at age 65. This original legislation laid the groundwork for today’s Social Security programs. Since then, Social Security [...]

We commonly refer to our 401k accounts as tax free savings. And, it’s true that we don’t pay taxes on any money we contribute to our 401k accounts during the year we contribute it. However, it’s also important to realize that we do pay taxes on our 401k accounts during retirement when we withdraw the [...]